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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Year end
Hi John,
If subsidiary has an year end of March and Parent has an year end of June , while doing consolidation do we do line by line consolidation ?
I understand we will make an additional sheet about significant events and transactions of subsidary from March end to June end ?
I cant get a clarity on consolidation adjustment
Hi,
The consolidation process is as normal, even though the year-end dates are different. provided there is no more than three months between the reporting dates then that is fine.
Thanks
so i consolidate march to march of p and s then what do i do for april , may and june items in parent.. there is no corresponding in subsidiary right
Hi,
You would consolidate both at June, including the results of S up to March and then adjusting for any significant (material) changes there may have been in the subsidiary.
Thanks